Fred

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The Memphis-based discount retailefr reported salesof $134.7 million for May, down 6 percentg compared to sales of $143.4 millio n in May 2008. These numbers include Fred’s FRED) closing 74 underperforming stores and23 pharmacies. Excluding thoses stores, Fred’s sales increased 1 percent compared tolast May. Comparable store sales in May rose 0.2 percent, down comparedx to 3.4 percent in the same periodd last year. For the first four fiscall monthsof 2009, the companh reported total sales of $593.1 million, down 2.4 percen compared to $607.7 million for the same year-ag period.
However, excluding stores closed in sales from ongoing stores increased 4 percent comparedc to thesame four-month period last On a comparable store basis, year-to-date sales increased 2.1 percentf compared to 2.4 percent last year. Fred’s opened one new pharmacg in May. Fred’s operates 666 discounr merchandise stores, including 24 franchised stores nationwide. Shares closed down 12 cents to $14.
22 per share